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VIP Brokers emerged as a Forex Trading service as well as a Binary Options trader. The platform was regarded as the b-book broker or you might call it a market maker.
The platform managed to attract clients from different countries but the traffic to its website had never been exceptional.
VIP Brokers offered indices, cryptocurrencies, shares, and commodities (only binary options). If you ever heard about this platform, you might have wanted to know how it actually worked and whether VIP Broker scam possibility is evident or not. Despite the fact that we don’t have much information about the company, we’ve decided to go on with the review to let you know what it did and why this little but important information can teach us a precious lesson.
As always here at Stopping Scammers we have conducted a thorough investigation into this brokerage & as a result our review might get quite lengthy, but don’t worry as we have put together some quick navigation links for you below. Simply click on any of these links & you will be taken straight to the specific information that you came here looking for.
- VIP Brokers Background
- Is VIP Brokers Regulated?
- VIP Brokers Complaints
- VIP Brokers Withdrawal
- Is VIP Brokers a Scam?
- Our Verdict on VIP Brokers
- Get Your Money Back From VIP Brokers
- A Better Way To Legitimately Make Money
VIP Brokers Background
Nothing is known about the owner of the platform. Whatever we could extract from the legal authorities is as follows:
- Service Name: VIP Brokers
- Website: vip-brokers.com
- Email: email@example.com
- Contact: 02036775430, 02080890981, 02080891994
- Address: Shelton Street – 71-75, Covent Garden, London
So the contact numbers were also operated from London. The website is down and the email doesn’t respond. The given numbers are also out of service. These indicators show some early but strong evidence about what we are dealing with. Yet another scam artist, we can safely anticipate!
Is VIP Brokers Regulated?
VIP Broker is not regulated and on top of that, Financial Conduct Authority (UK) issued a serious warning on 21-05-2018.
The warning stated that the authority believes that VIP Brokers doesn’t have any authority or permission to offer financial services in the United Kingdom. Avoid dealing with this service or any other unregulated financial service.
So the issuance of a serious warning means that the company had to quickly collect and steal whatever the clients have deposited into their accounts.
It wasn’t a matter of “IF” because in all such cases, as soon as the warning is issued, there remains a question of “WHEN”. We frequently come across binary options brokers who no more have their online existence. They are either planning their next score or have already set the bait with a new name, in a new region, or a new industry.
“Fool me once, shame on you, fool me twice shame on me”.
It is amazing to witness the number of binary options scammers getting away with traders’ money. We mean to say, when one unregulated company has already fooled traders, how could another unregulated company do the same when various authorities have warned against trading with the non-registered entities? We still continue to get surprised without having a logical reason for the successful repetition of the same crime using the same tactics.
VIP Brokers Complaints
There is everything in this section, from account closure to unprocessed withdrawal requests. The same old story is repeated. A client is upset for getting his 5,000 dollars stuck in his account while having no way to access his account any more.
What could we suggest at this stage? We mean, why don’t they care at the right time? Some clients have even complained about the company’s reps attempt to harass their clients to bring in more deposits. This could be an exaggeration out of anger but such complaints do exist.
The next type of complaints is about the manipulation of the traders’ accounts. The reps remotely accessed the accounts and initiated trades.
Another trader narrates that he had $23k and made an average of $15 profit over the period of 4 months before he decided to withdraw his funds and close the account. The company’s reps asked for a $4k fee in order to receive his funds. He was lucky to take the right step by reporting VIP Brokers to the Action Fraud British Police. Michael Green was the company’s chief broker and he had to return his funds. Well, that’s a lucky escape, to say the least.
VIP Brokers Withdrawal
For the website is down, nothing is available any more about the deposit and withdrawal policies. All we know is that VIP Brokers facilitated wire transfer and Credit Cards as the mode of deposit and withdrawal. The minimum bars and fees are not known because nobody cares once the platform has disappeared.
Is VIP Brokers a Scam?
Yes indeed, VIP Brokers scam is another classic example of how these artists play with the emotions and innocence of the general public. They make big promises, they do serve well for a few months, and stab in the back of each of their clients as soon as they realize that they have collected enough and it’s time to vanish.
Our Verdict on VIP Brokers
Never ever trade with VIP Traders or any other platform that is not registered. We have to repeat the same lines over and over just because we realize that people are still not taking good care of their money. They somehow become victims of these scammers. We have just one major indicator that is the registration of the company. If it is registered, add it to the list of possible selection. If it is not registered, REJECT is without allowing a second thought.
Get Your Money Back From VIP Brokers
We’ve seen a lot of complaints regarding people losing money to VIP Brokers & therefore you might have came to this review having already lost money to VIP Brokers yourself… But if that’s the case then rest assured that there’s a good chance you can get it back.
Our free money reclaim guide outlines the exact steps that you can take to reclaim your funds from the hands of these scammers & to date it has helped thousands of people.
So if you have lost money to VIP Brokers, or even to any other scam for that matter then rest assured that our guide will likely be able to help you & therefore we highly recommend you check it out.
A Better Way To Legitimately Make Money
The truth is that here at Stopping Scammers we believe that binary options trading is bad news, even with the most legitimate brokers – and as a result we absolutely do not recommend it… However there are some much better legitimate ways that you can make good money.
We’ve come across many legitimate opportunities whilst carrying out our investigations into potential scams but there has been 1 opportunity in particular that has definitely stood out from the rest.
We have given it the title of our number 1 recommendation for working from home and you can access it for free via the link below: